Major shareholder cannot be found

Press, Volume CXV, Issue 33941, 6 September 1975, Page 17

Major shareholder cannot be found

Attempts to locate the major shareholder of Lambskin Creations, Ltd, Mr K. J. Woodhead, had been unsuccessful, creditors were told at the first meeting after the wind-up of the company.

Mr Woodhead, is thought to be in Australia. The company was wound up by Mr Justice MacArthur on the application of one of the creditors, G. L. Bowron and Company, Ltd. Mr I. A. Hansen, the official assignee, was appointed provisional liquidator, and the meeting of creditors voted that he become the official liquidator.

There was no move to appoint a committee of inspection. Seven creditors were present. One of the creditors, Mr G. R. Frew, who had acted as accountant for the firm said that there had been little trade in the year before the winding-up. Mr Woodhead had previously worked for the company, and had purchased the majority holding in March, 1974, from Mr C. F. Alexander. The company ceased trading about two months later.

Mr Woodhead had said that he had had difficulties caused through inexperience, bad workmanship, slow deliveries, and scarcity of materials. He had also' said

that the business lacked' capital. Company liabilities were estimated to be $3497.91 and the firm of Wilkinson and Wilkinson, accountants, were holding $1995.05 in trust, leaving (after including debtors) a deficiency of $1302.86. Mrs L. M. Lindsay, for the provisional liquidator, said that as well as attempts to . locate Mr Woodhead in Australia, letters had been written to his mother, who lives in Christchurch. No reply had been received.